When a trader wants to open a forex account with any forex broker, there are options to choose from full service, discount and introducing brokers.
A full service broker offers all the standard services, such as investment advice and price quotes. They also keep traders updated with all current trends. With a discount broker, the trader has to take care of all buying and selling decisions. An www.fxcm-markets.com/metatrader-4/ is a person that introduces new customers to the full service brokers. The full broker then provides full support in managing their accounts. They earn brokerage on every customer they introduce.
An introductory forex broker deals with futures contracts and commodities. The ranges of services provided are the same as that of a full broker. Futures trading deals with trading of treasury bonds, stock indexes and foreign currencies. Speculation in futures trading is on the rise with the availability of technology and services. Today, traders prefer to opt for a fully managed account with the brokers.
Introductory forex brokers are generally, existing traders who have solid experience and sound knowledge of the forex market. They can enhance their knowledge by managing other people?s accounts. They form a significant fraction of the workforce of many brokerage companies.
These brokerage companies offer traders the option of joining them as introductory brokers, and provide full support to set up their offices. Introductory forex brokers are generally provided with full back office support. They are also given access to training and workshops that the company conducts for its prospective customers.
Introductory forex brokers are presented with extensive tips and current trend updates and analysis to help their traders do well in the market. Total support is provided to these introductory brokers in order to establish a successful business.